Tamil NaduIncome tax raid at 40 locations owned by MGM Group in Tamil...

Income tax raid at 40 locations owned by MGM Group in Tamil Nadu

An income tax Raid of 40 locations owned by the MGM Group has revealed that crores of rupees worth of property documents were seized.

Chennai: An income tax audit conducted at 40 locations owned by the MGM Group has revealed that property documents worth crores of rupees were found. MGM Amusement Park at MGR, Chennai ECR, MGM Group There are companies all over Tamil Nadu including Resort, Liquor Factory and Tindivanam, Kanchipuram, Bangalore, Karnataka, Andhra Pradesh.

MG Muthu from Nellai district joined the Chennai port as a laborer and rose to become an entrepreneur through his tireless work. Following the death of MG Muthu, his son Nesamani Muthu is currently the Director of his MGM Group.

It was during his time that the MGM Group grew exponentially in all sectors, including real estate, the brewery, star hotels, businesses, and businesses. It was alleged that the group had not properly accounted for their income to the Central Government for the last 2 years.

It is said that a summons was sent to the MGM group on behalf of the Income Tax Department and an explanation was sought. But are said not to have responded formally on behalf of their ensemble.

Following this, the MGM Group owned amusement parks, resorts, liquor factory in Kanchipuram district, real estate companies, MGM. The group’s director Nesamani Muthu’s house, offices and managing directors’ houses have been subjected to separate inspections by Income Tax officials since this morning.

Authorities did not allow anyone in the park to enter the park, especially since the morning at the MGM Amusement Park on East Coast Road. Nor did the staff let anyone out of work inside.

As well as the MGM. The test is also being conducted at a group-owned distillery. MGM in Raipet, Chennai. The group’s head office and liquor factory head office, resorts on East Coast Road, star hotels in Bangalore and Andhra Pradesh are being raided at its directors’ homes and offices.

Similarly, companies in Nellai, Villupuram district, Tindivanam, Bangalore, Karnataka, real estate companies and businesses in Andhra Pradesh, as well as 40 hotels owned by the MGM Group are being tested.

The test is said to have involved documents relating to the accumulation of assets in excess of income, foreign investments, and investments in foreign islands. In addition, the Income Tax authorities’ investigation revealed that two types of accounts were maintained at the amusement park on East Coast Road.

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It is learned that the relevant documents have been taken from the computer by the Income Tax authorities. In addition, cash, gold jewelry, and the liquor industry’s budget and expense accounts are all currently being audited by income tax officials.

It was only after this audit that the MGM was established. Officials have revealed how many crores of rupees the group has evaded in taxes to the United States government.

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